Currency pair USD/JPY US Dollar to Japanese Yen is trading at 106.91. The pair is traded within the Ichimoku Kinko Hyo Cloud, indicating a flat trend for the Dollar/Yen pair. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the 106.80 level, from which it is expected to attempt a rebound and continue falling of the pair with a target near the level of 104.95. An additional signal in favor of the fall of the pair is the test of the upper boundary of the bearish channel.
Japanese Yen forecast USD/JPY on February 28, 2018
Earlier, a medium strength signal was received for the sell of the Dollar/Yen pair, due to the crossing of the signal lines at the level of 107.05. The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 107.65, indicating a change in the flat trend in favor of the bullish trend. Expect to accelerate the fall in USD/JPY quotes with a breakdown of the lower boundary of the indicator Cloud and the closing below the level of 106.15.
